Keith Beggs has devoted his entire 14-year career to helping people achieve their financial and retirement goals. As a former consultant to advisors, he worked for one of the largest financial wholesalers in the U.S. and traveled the country teaching financial professionals how to better serve their clients and protect their wealth. In June 2016, he brought together his years of experience and insight to found Steadfast Wealth Strategies, a financial service firm that is revolutionizing the sleepy industry from the inside out. And people are taking note. With a specialized focus on pre-retirees and retirees, in just the last three years, the firm’s business has doubled, with projections to double again by the end of 2021. Headquartered in the energy corridor of Houston, TX, the academically based investment company helps families and individuals define and build their retirement while being protected from the day-to-day fears of the market. With services tailored to each client, Steadfast connects every individual with a broad range of support in market loss protection, fees and cost reduction, guaranteed lifetime income, social security, and tax-advantage solutions. With its unique model, Steadfast has enjoyed over 100% growth for three years in a row—and projects to repeat this for a fourth time—as more and more people are discovering that there’s a better, safer way to invest and are flocking to Steadfast for their high-probability and low-risk fully comprehensive plans. Keith recently met with us to share more about his thriving company, the people they serve, and what drives his passion to invest in their futures.
Let’s begin with more about Steadfast and how it differs from other financial service firms.
We focus on families and individuals who want to save or plan for retirement. We understand that not every individual or pre-retiree has the same goals or situations. That’s why our plans are customized to each client and reflect our commitment to always look out for their best interest. Just as our motto says, we are “Experienced in Finance, but Invested in Futures.” Our clients have worked long and hard for the money they’ve saved, and we believe everyone deserves a sound future. We add value not just to the portfolios of our clients, but to their overall lives, now and into the future. We’re truly invested in the people we serve, and we have the leadership and expertise to help them get to where they want to go. The central focus of Steadfast is to merge innovation with sound financial solutions, and we do so by combining proven principles with creative new techniques and strategies.
What led you to start your own company?
I had an idea that prudent, academic-based investing was something people were seeking. Back when I was coaching advisors, I saw the approaches they took with clients, and I thought they were setting them up for failure. They were speculating and gambling with their money constantly. I believe that people are hungry for education and for a real plan instead of trying to pick the next-best company—whether that’s Amazon, Airbnb, or another one. They’re just throwing darts at a dartboard, and there’s a much better way to approach personal finance. We can’t continue throwing darts when people’s hopes and dreams are on the line. I wanted to start a firm that would educate clients and coach them through downturns—elections, market dips, COVID, etc. We’re here to help them make sound decisions during those difficult times and through good times and to plan for their futures.
As the leader of Steadfast, what is your ultimate goal when working with clients?
I want to help investors stop speculating and gambling with their money. Too many people are trying to stock pick, market time, or use track-record investing to reach their retirement goals even though these activities have proven to be highly detrimental. These are the most common mistakes that we see. That’s why we strive to educate our clients on how markets work and how to build a diversified, academically based portfolio that will use the power of the market to help them achieve their true purpose.
What advice do you give to individuals or advisors making those types of mistakes?
I explain that short-term market movements are random and unpredictable. We saw this at the start of the pandemic, and those who remained prudent in their investment strategies came out far ahead and have been able to capture significant gains since the March fallout. You can’t chase returns, because by the time you get there, they’re gone. There’s really only one sensible way to invest your money, and that’s to own the entire market. We have holdings in 21,000 independent companies in over 80 countries, and we invest our clients’ money into these businesses. Our approach is based on two Nobel Prize-winning economic theories.
Tell us how you help pre-retirees and retirees create a “personal pension.”
We help to create guaranteed income streams that clients can’t outlive without giving up control of their money. We all like certain guarantees, but tremendous peace of mind comes with knowing that we have control over our nest eggs. That’s why we call it a “personal pension”—it ensures regular income throughout a person’s life, and it’s not at the mercy of the volatility of, say, a company or government pension plan.
You believe that risk—not portfolios—should be personalized for each individual, which is a departure from the traditional investment approach. How does your unique strategy benefit clients?
I’ve never understood why financial advisors or investment firms advertise that they build personal portfolios. Why would they give one person a better portfolio than another? When we’re helping our clients build their portfolios, the decision is not based upon which stocks to include because we invest all our clients into the solid 21,000 companies that we have holdings in. So, the only decision is how much equity or risk we want in each portfolio. That’s what we manage—risk. Your risk tolerance is personalized, your portfolio is not, and you want to personalize this risk based on age, income, goals, your emotions, etc.
What do you enjoy most about your work?
I’m a people person, so I love getting to meet and talk with families and hear their goals. We spend a lot of time helping them to find the true purpose of their money—retirement, passing it on, donating to a cause, etc. Once they define their purpose, it’s easier to make sound financial decisions. Understanding the impact it can have on them, their families, and their communities, encourages people to protect the wealth they worked so hard to build, and I find that immensely fulfilling.
Keith holds a bachelor’s in business administration from Sam Houston State University and Series 65 and state insurance licenses. He has served on the advisory boards of multiple insurance carriers and is currently an active member of the National Ethics Association.
Founder and CEO
Steadfast Wealth Strategies